Are you seeing ICICI Pru Life Guaranteed Wealth Protector – Win win plan on advertisement hoardings on the road side? FM Radio keeps buzzing about this plan several times in a day. Are you wondering what is this win-win plan advertisement appearing major financial websites? This ULIP plan is offered by ICICI Pru life named Guaranteed Wealth Protector indicates that it is win win to have equity linked returns and also capital protection. ULIP schemes issued earlier have been cheating investors by charging high allocation and agent commissions. Does this ICICI Pru life guaranteed wealth protector is different from earlier ULIP Plans? Is it really win win plan ?

About ICICI Pru Guaranteed Wealth Protector ULIP

This is a Unit Linked Insurance Plan (ULIP) indicates that it would protect capital and would provide your assured benefit of 101% of premiums paid. Generally, all ULIP’s fund value would get reduced to the extent of commissions paid to agents + premium allocation charges, etc., Hence ULIP holders fund value shows very less compared to what they invested for a moment ignore the returns. This plan indicates that it provides 101% of assured benefit and investors are getting tempted to invest in this.

Some of the Negative factors of ICICI Guaranteed Wealthy Protector plan

You cannot surrender the policy within 5 year policy term. If you want to surrender the policy within 5 years, the fund value would go to discontinued fund account and you would get amount after 5 years completion. During such discontinuance period you would get 4% annualized interest.

Additions from loyalty additions and wealth booster would get offset to some extent of deductions. Net summary is deductions are higher than additions.

Like any other ULIP, even this has several deductions like mortality charges, allocation charges, fund management fees etc., which are high and makes this plan unattractive.

Download Brochure of ICICI Pru life guaranteed wealth protector plan

Conclusion: ICICI Pru life guaranteed Capital Protector ULIP win win plan is not a win win in reality. Though it offers several benefits all such benefits are adjusted with the charges which this plan deducts. However, considering earlier ULIP plans where your investment amount is being reduced, this plan at least protects to that extent where it offers 101% assured benefit. But I do not see any reason why I need to invest my money and think of protection of the money. Rather, I consider the term insurance plan and invest balance money in bank FD and sit and relax rather investing in this and worrying about it.

Readers, have you got tempted and invested in this plan ? What do you say about this plan. I would love to hear your views on this.

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Suresh KP i.e. me, have written 1250+ articles on this Blog. I love doing analysis on various Best Investment Plans like mutual funds, Stocks, IPO’s, NCD Bonds, Insurance products. If you like our blog, you can share some of the good articles on your Facebook or Twitter. This would be the BIGGEST gift which you would be giving to us.